MACRO ECONOMIC NEWS

WISHING A DAY OF SELF TRANSCENDENCE. GOOD MORNING.

Macro Economic News 24 Aug 2018

 

The formal discussion at this week’s Fed retreat with global central bankers will be about the impact of monopolies, but new economic uncertainties are sure to dominate chats over cocktails and mountain hikes. Trade talks between the U.S. and China failed to produce any visible sign of progress, reducing the prospects of a deal soon, people closely tracking the talks said. Sales of new homes declined for the second straight month, the latest in a string of economic data pointing to a soft run in the housing market amid an otherwise booming economy.

 

FINANCIAL TIMES

[I]  ‘Brutal’ Australian politics behind likely demise of PM Turnbull

[I]  Angela Merkel seeks to secure EU top job for Germany

[I]  Donald Trump’s fate hangs on definition of hush money

[I]  UK business faces storm of red tape under no deal with EU

[I]  Australian prime minister on verge of being ousted

[I]  Venezuela’s neighbours urged to keep borders open

[I]  China woos Wall Street as reciprocal US tariffs take effect

 

REUTERS

[I]  Kerala seeks at least 100 billion rupee loan

[I]  Surge in Indian buying sends West African oil flows to Asia to record in August

[I]  U.S.-China trade talks end with no breakthrough as tariffs kick in

[I]  Japan July inflation stagnates, lacks demand-driven support

[I]  Red tape and border delays if no Brexit deal, Britain warns firms

[I]  Turkey says U.S. waging 'economic war', lira weakens

[I]  U.S., China impose new tariffs, escalating trade war

[I]  Fed policymakers see rate hikes, blurring dove-hawk divide

[I]  Drop in U.S. jobless claims points to labor market strength

[I]  ECB minutes point to worries about trade war, protectionism

 

BLOOMBERG 

[I]  Hong Kong Intervenes Again to Defend Peg as Dollar Strengthens

[I]  Nafta Talks Set to Run Into Next Week as Canada Sits on Sideline

[I]  Japan’s Steady July Inflation Leaves 2% Target Out of Sight

[I]  No August Lull for This Global Economy as Trade Battles Heat Up

[I]  Expect More Volatility in the Turkish Lira

[I]  Fed Officials Say Rate-Hike Criticism by Trump Won't Sway Policy

[I]  U.S., China Enter Day Two of Trade Talks as New Tariffs Kick In

[I]  No Major Progress in U.S.-China Trade Talks as Tariffs Bite

[I]  Eurodollar Whale Betting on Fed Rates Looks Well Beyond December  

 

WALL STREET JOURNAL

[I]  As Central Bankers Meet, Economic Uncertainties Weigh on Outlook

[I]  At Jackson Hole, Monopolies Are in Focus

[I]  U.S.-China Trade Talks End With No Sign of Progress

[I]  Home Sales Tumbled In July for the Longest Slump Since 2013

[I]  Treasury Moves to Block Path Around Cap on State Tax Deductions

[I]  ECB Determines Eurozone Still Needs ‘Significant’ Stimulus

[I]  U.S. Jobless Claims Fall for Third Consecutive Week

[I]  Argentina’s Economy Contracted 6.7% in June From Year Earlier

[I]  Dealers Saw Roughly Two More 2018 Fed Hikes Before Last FOMC Meeting

 

BUSINESS LINE

[I]  New Industrial Policy to focus on jobs, push tech use, cut red tape

[I]  Panel for rollout of 5G services by 2020

[I]  Behind the wheel, again

[I]  India to clock 7.7% growth in April-June quarter: Moody’s

[I]  SEBI chief expresses concern over concentration of assets in MF industry

[I]  Rain belt shifting to North, N-E over next four days

 

ECONOMIC TIMES

[I]  World Bank launches world-first blockchain bond

[I]  'Maha kharif sowing 94% complete, but only 50% loan disbursed'

[I]  Flood damage may slash India's coffee output by 20 per cent : Trade body

[I]  Government extends sugar export deadline by 3 months till December

[I]  Moody's puts India growth in 2018, 2019 at 7.5%

[I]  India Inc. finds pricing power in fastest-growing world economy

[I]  India needs 3-4 global sized banks: NITI VC Rajiv Kumar

[I]  CBDT asked to clear ambiguity over STT on physical settlement in F&O

[I]  Government imposes standard environment clearing conditions for 25 sectors

 

BUSINESS STANDARD

[I]  Ongoing depreciation of the rupee to add to India Inc's borrowing woes

[I]  SBI fixes plans for six stressed power assets; RBI deadline ends Monday

[I]  Govt snubs WhatsApp's no, wants it to trace origin of fake news messages

[I]  5G launch in India likely by 2020, economic impact of $1 trillion by 2035

[I]  Foreign investors, Indian retailers to join hands against e-commerce draft

[I]  Govt imposes standard green clearance norms for as many as 25 sectors

[I]  Monsoon will shift towards central, east India till August-end: IMD

[I]  B2C deals gain traction in banking as digitisation cuts down middlemen

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11571;  USDINR DGCX: 70.2800;  DJIA Mini: 25689;  FTSE 100 Fut: 7539;  NIKKEI 225 Fut: 22487;  EUR-USD: 1.1548; Crude Oil (WTI): 68.13;  Gold (Spot): 1186

Best Regards, ARBIND

24 Aug 2018